Political bloggers and gossip columnists alike are buzzing about the Great Clinton Wedding—the union of the only daughter of Bill and Hillary (former President and current Secretary of State, respectively). Details—and rumors—are flying. According to the latest conjecture, 500 guests will enjoy the festivities at the palatial Rhinebeck estate of Democrat elite. The Wall Street Journal speculates that the affair will cost $2 to $3 million, and that the cost will work out to almost $300,000 per hour.
The Wedding Industry Won’t Recede
There’s a reason Chelsea can have such an elaborate, expensive celebration: her family is rich. Very rich. The WSJ reminds us that the Clintons’ net worth has been estimated at about $35 million. But over-the-top weddings aren’t a casualty of the recession. Instead, the industry considers itself largely recession-proof, and finds that people are willing to spend as much as they ever have to don the requisite lace-and-cufflinks uniform and declare their commitment publicly.
Are You Investing In Your Future?
No matter what the general populace (or American royalty) chooses to spend on the Big Day, it’s a universal truth that weddings are not an investment. Feel free to make the argument that we’re investing in our future, and this is an appropriately grandiose symbol of our otherworldly love, but in the end, we’re not paying for a symbol. We’re paying for flowers, and food, and transportation, and makeup, and music, and clothes. None of which are investments.
Appreciate Your Restraint
An investment’s value appreciates over time—it’s worth more as the years pass. For example, your home. Goods and services that aren’t investments depreciate—lose value—over time. For example: flowers, and food, transportation, makeup, music, and clothes. It’s easy to get swept away in wedding fever, but keep in mind that a smaller affair (and we’re not insisting you go the City-Hall-wearing-a-skirt-suit route, just that you consider eliminating the doves and champagne fountain) imparts the same gravity while providing just as much fun.